Pacira BioSciences (NASDAQ:PCRX) Posts Earnings Results

Pacira BioSciences (NASDAQ:PCRX) issued its quarterly earnings results on Thursday. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.03), FiscalAI reports. The business had revenue of $176.65 million during the quarter, compared to the consensus estimate of $182.87 million. Pacira BioSciences had a return on equity of 9.68% and a net margin of 1.96%.

Pacira BioSciences Price Performance

NASDAQ:PCRX traded up $0.01 during trading hours on Friday, reaching $36.43. 537,093 shares of the company were exchanged, compared to its average volume of 2,693,118. The company has a debt-to-equity ratio of 0.54, a current ratio of 5.04 and a quick ratio of 3.94. Pacira BioSciences has a 1-year low of $18.80 and a 1-year high of $36.67. The company has a market capitalization of $1.45 billion, a P/E ratio of 104.09 and a beta of 0.21. The business has a 50 day moving average of $30.17 and a 200 day moving average of $25.21.

Insider Activity

In other Pacira BioSciences news, insider Jonathan Slonin sold 3,040 shares of Pacira BioSciences stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $23.23, for a total value of $70,619.20. Following the transaction, the insider owned 216,384 shares in the company, valued at $5,026,600.32. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Lauren Riker sold 6,000 shares of the company’s stock in a transaction on Thursday, October 8th. The stock was sold at an average price of $36.32, for a total transaction of $217,920.00. Following the transaction, the senior vice president owned 62,284 shares of the company’s stock, valued at $2,262,154.88. This trade represents a 8.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 6.40% of the company’s stock.

Wall Street Analyst Weigh In

PCRX has been the topic of a number of research reports. Wall Street Zen upgraded Pacira BioSciences from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Leerink Partners initiated coverage on Pacira BioSciences in a research report on Wednesday, September 9th. They set a “market perform” rating and a $28.00 price target on the stock. Jefferies Financial Group lowered shares of Pacira BioSciences from a “buy” rating to a “hold” rating and set a $36.00 price objective on the stock. in a report on Thursday, October 8th. Weiss Ratings raised Pacira BioSciences from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 8th. Finally, Truist Financial cut shares of Pacira BioSciences from a “buy” rating to a “hold” rating and raised their price target for the stock from $31.00 to $36.50 in a research note on Friday, October 9th. One analyst has rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Pacira BioSciences currently has a consensus rating of “Hold” and an average price target of $33.33.

Pacira BioSciences Company Profile

Pacira BioSciences, Inc is a specialty pharmaceutical company focused on developing and commercializing non-opioid pain-management and regenerative health solutions. The company’s products are designed to address acute postsurgical pain and osteoarthritis-related pain while supporting efforts to reduce reliance on opioid medications.

Pacira’s lead product is EXPAREL, an extended-release formulation of bupivacaine administered by injection for postsurgical pain management. The company also markets ZILRETTA, an extended-release corticosteroid injection indicated for osteoarthritis knee pain, and iovera°, a cryoanalgesia system that uses controlled cooling to temporarily block peripheral nerves and relieve pain.

Formerly known as Pacira Pharmaceuticals, the company adopted the Pacira BioSciences name to reflect its broader focus on innovative pain and regenerative-health therapies.